BCom In Accounting & Finance (BCAF) SEM V 2018 19 May 2018-19 Taxation IV Question Paper - Mumbai University | munotes

Questions asked in this paper

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1. Q2 Question No 2,3,4 and 5 have internal options
2. Q3 Each questions carry 15 marks
3. Q4 Figures to the right indicate full marks assigned to the question
4. Q5 Specify assumptions, if any while solving the question
5. Q1 A) Rewrite the statement with the correct alternative (Answer any eight out of ten) 1 GST is charged on of goods or services 8 marks
   • a) Manufacture b) Consumption
   • c) Demand d) Supply
   • a) Intra State supply b) Export supply
   • c) Inter State supply d) Deemed supply 3 Rate of tax in compositions scheme for manufacture CGST and SGST together is 4 State Taxes that would be subsumed into GST include
   • c) Service Tax d) Both (a) and (b) 5 is an instrument containing all the necessary details of transactions of supply of 6 Input Tax Credit of IGST can be first utilized to pay output liability of 7 The amount deposited as advance deposit of tax by Casual taxable person or Non-resident taxable person at the time of registration credited to
   • c) Compositions levy d) Tax payable on reverse change basis Tax invoice for goods is prepared on 10 A person who has obtained or required to obtained more than one registration will be 1.B] Match the following columns (Answer any seven out of ten) 07
6. Q2 From the following information given to you of Mr. Yogesh Compute the Value of Taxable Service and the Goods and Services Tax Payable for the month. All amounts given are excluding Goods and Services Tax. Assume GST rate of 18% 15 marks
7. Q7 Carried out certain process as job work which did not amount to 52,000
8. Q2 A) Mr. Bhushan purchased goods worth = 2,00,300 which included amount of GST at 18% Determine the Value of Taxable Supply as per the provisions of section 15 of CGST Act 8 marks
   • B) Determine Time of Supply in following independent cases as per the provisions of CGST Act, — 07 Date on which goods are Date of Invoice | Date of receipt of payment
9. Q3 A) M/s Ronak Enterprises has provided information regarding GST paid on inward supplies for the month of February 2018. You are required to Calculate Input Tax Credit available for the month 8 marks
   • B) Output Tax Liability of Thanekar and Company of Thane is as under. Compute GST Liability. 07 (Amount payable in Electronic Cash ledger) Mr. Pandit is a registered dealer in the state of Karnataka under GST provides the following 15 information about his business for the month of October, 2017 details of Electronic Credit Ledger are as follows Input Tax Credit available on Inward Supplies 9,500 10,500 11,000 The following are the transactions of Mr. Pandit in the month of October 2017 Compute Net Tax Liability of Mr. Pandit for the month of October, 2017
10. Q4 A) Mrs. Sunita commences business from the 1* April, 2017. She furnishes the following information and want to Find out from which month she will be liable for Registration and to pay GST as per the provisions of GST Act. Give reasons 8 marks
    • B) Mr. Prakash supplies Goods and services from Haryana, Punjab. He provides following details 07 relating to the business for the month of February, his eligibility for Registration under relevant Goods and Service Tax laws [6 Intra-State Goods wholly
11. Q4 A) Determine Place of Supply of goods in the following cases and also state the Nature of supply and the Type of Tax Leviable (CGST, SGST and IGST) Supplier and his location Recipient and his location | Place of assembly 8 marks
    • B) Mr. Sumit resident of Arunachal Pradesh provides you following information regarding supplies made by him. Determine his Eligibility for registration under relevant Goods and Service Tax Intra-State Goods Taxable @ 18% (Exclusive of GST) 50,000 Intra-State Goods Taxable @ 5% (Exclusive of GST) 7,00,000 Intra-State Services Taxable @ 12% (Exclusive of GST) 2,00,000 Agricultural produce cultivated by family members 1,00,000 Intra-State Goods wholly exempt under GST 88,000 6 Exports made to UK 74,000
12. Q5 A) Explain the provisions of GST Act for Cancellation of registration? 8 marks
    • B) Explain Advantages and Disadvantages of Goods and Service Tax? 07
13. Q5 Write short notes (Answer any three out of the five) 15 marks
14. Q1 Transaction Value
15. Q2 Debit note
16. Q3 Bill of Supply
17. Q4 Composition Scheme
18. Q5 Refund Voucher

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